The new measure could lead to a noticeable decline in the number of registered directors and controlling parties. Authorities are also likely to see a rise in attempts to circumvent the identification requirement, including by formally appointing proxy directors, which allow the real company controllers to hide their identities. People are currently being paid just £500 (US$658) to become a “ghost director” of a company, financial fraud expert Graham Barrow told The Times. In total, between six and seven million individuals are expected to verify their identity by mid-November 2026.